2001 (1) TMI 118 - AT - Central Excise

Summary

The Commissioner of Central Excise denied Modvat credit of Rs. 52 lakhs wrongly availed by M/s. SCJ Plastics. Penalties imposed on individuals under Rule 209A of the Central Excise Rules. The Department alleged misuse of Modvat scheme by showing excessive consumption of expensive inputs. The Tribunal waived pre-deposit of duty and penalties based on the Apex Court decision and Circular dated 18-10-2000. Recovery of duty and penalties stayed pending appeals.